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Advisers alerted to expat business as overseas move grows

IFAs have a growing opportunity to advise clients living abroad as increasing numbers of Britons are deciding to live overseas, says the Association of International Life Offices.

At Money Marketing Live at Olympia in London last week, Association of International Life Offices chairman Alan Morgan-Moodie said that the growing number of Britons moving abroad represents a unique opportunity for IFAs.

He cited research from Alliance & Leicester which indicates that around two million Britons will be working abroad and four million will be retired abroad by 2020.

Morgan-Moodie also pointed to research by The Daily Telegraph which showed that 40 per cent of the UK population over 50 are considering retiring abroad.

But Blevins Franks managing director Bill Blevins warned IFAs of the possible dangers under the Government’s Proceeds of Crime Act of advising existing clients who move abroad.

He said: “Most expatri- ates in Spain, for example, do evade taxes in some way and if you suspect that your client is guilty of tax evasion then you have to inform the authorities.”

“It is OK when the IFA has detailed knowledge of where they live. But it is preposterous that they could advise as well on economic conditions in Spain or wherever their client has moved.”

But Main Options IFA Loraine Marsh said: “This view is tarring all advisers with the same brush. I would not deal with those types of clients. My clients are dec- ent people and know that there is a wealth tax on your worldwide assets.”


Nic Cicutti

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Julian Gibbs

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Barclays takeover of Absa to change SA banking landscape

Standard & Poor have said the Barclays acquisition of Absa could change the competitive landscape of the South African banking sector.If the partial takeover is completed, the acquisition of up to 60 per cent in Absa would result in Barclays re-entering the sector in South Africa and would become the countrys largest international player.Standard & […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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